Breaking News Instant updates and real-time market news.

2017-06-18 17:08:43

ALIOF

Actelion

, JNJ

Johnson & Johnson

$134.35

1.31 (0.98%)

17:08

06/18/17

06/18

17:08

06/18/17

17:08

Actelion granted Orphan designation for macitentan

The FDA granted Actelion (ALIOF) Orphan designation for its macitentan product in the treatment of chronic thromboembolic pulmonary hypertension. The designation was granted June 15, according to an online notice from the agency. Actelion has been acquired by Johnson & Johnson (JNJ). Reference Link

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cognex (CGNX) initiated with a Neutral at JPMorgan. 2. Realogy (RLGY) initiated with a Hold at Deutsche Bank. 3. EQT Midstream Partners (EQM) ande EQT GP (EQGP) were initiated with a Buy at Janney Capital. 4. Williams (WMB) was assumed with an Outperform at Credit Suisse, while Williams Partners (WPZ) was assumed with a Neutral. 5. Actelion (ALIOF) reinstated with a Hold at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

01/31/17

01/31/17NO CHANGE

Deutsche sees label warnings as worst case for Actelion drug

After France's National Agency for the Safety of Medicines and Health Products, in a letter dated January 24, asked doctors to stop treating new patients with Actelion's (ALIOF) Uptravi as it investigates patient deaths, Deutsche Bank said it believes a label warnings for the pulmonary arterial hypertension drug is likely the worst case scenario. The firm thinks Johnson & Johnson (JNJ) likely knew of the letter before reaching an agreement to acquire Actelion. Shares of Actelion are down 4% to $65.40 in morning trading.

UBS analyst Matt Miksic believes Johnson & Johnson (JNJ) delivered a solid bottom line beat on in-line sales but prior period adjustments impacted Pharma growth, making the as-reported results look less robust. He raised his estimates to include the Actelion (ALIOF), deal which is expected to close in Q2. Miksic views the initial pullback in the stock as creating a particularly attractive entry point for investors. Miksic reiterated his Buy rating and $136 price target on Johnson & Johnson shares.

Credit Suisse analyst Vamil Divan said he came away from the ASCO meeting feeling like positive progress by competitors is increasing the pressure on Pfizer's (PFE) cancer assets, specifically pointing to positive data for Roche's (RHHBY) Alecensa, Johnson & Johnson's (JNJ) Zytiga and Eli Lilly's (LLY) abemaciclib. Additionally, competition in the immune-oncology and PARP spaces will make it more challenging for Pfizer to gain traction, added Divan. He keeps an Outperform rating on Pfizer, citing valuation and its dividend yield, but he has concerns about its upcoming patent expirations and growth products.

After speaking to Tesaro (TSRO), after they spoke to their partner Johnson & Johnson (JNJ), Credit Suisse analyst Alethia Young said the news of the companies' suspension of participant recruitment in the study of niraparib in prostate cancer is actually positive, since it is due to the trial enrolling faster than expected. The suspension has nothing to do with safety or efficacy and is not a clinical hold, but is due to having too many patients in the first part of trial, Young was told. She maintains an Outperform rating on Tesaro shares.

SunTrust analyst Peter Lawson says that the suspension of participant recruitment by Johnson & Johnson (JNJ) for a study of Tesaro's (TSRO) PARP inhibitor Zejula in prostate cancer "is being incorrectly viewed as a clinical hold." After speaking with J&J, Lawson says that the suspension was not due to clinical or safety issues, but to overly fast enrollment. The analyst says that the early data on PARP inhibitors in prostate cancer has been "encouraging." He believes that the misunderstanding has created a buying opportunity in Tesaro stock. .

06/14/17

RHCO

06/14/17NO CHANGERHCO

Eli Lilly has positive read through from J&J data, says SunTrust

SunTrust analyst John Boris says that data for Johnson & Johnson's (JNJ) Invokana for diabetes represented a best-case scenario for Eli Lilly (LLY). J&J's drug "significantly reduced the combined risk of cardiovascular death, myocardial infarction and nonfatal stroke in diabetes patients at risk for or with a history of CV diseases," and its efficacy on CV death is positive for the SGLT-2 class, to which Eli Lilly's Jardiance also belongs, according to the analyst. But the data leaves Jardiance, which reduced CV death by a statistically significant 38% versus Invokana's non-significant 13%, as the best in the class, wrote the analyst, who reiterates a $101 price target and a Buy rating on Eli Lilly.